The comet. (Johnson City, Tenn.) 1884-1916, 1887-05-19
JOURNALISTIC SCOOP.
h'he Nashville American SwaI-
lowed by the Union.
Special to the Knoxville Journal.

special 10 the hnoNVllle Journal
NASHVILLE, May 12.-This after
noon the papers were all signed and
all Of the late Stockholders OF the COM
pany publishing the American had
their stock transferred to Nat. Baxter,
Jr, A. M. Shook, J. G. Warren, G. NJ.
Fogg, A, S. Colyar and other gentle
men interested in the purchase. 1t
was desired by the management of
the American that the purchasers take
immediate possession, but Mr. Colyar,
who will have editorial charge, asked
that the old force get out the paper of
tomorrow. 1t as the present inten-
tion to christen the paper with the old
name of the Union and American, dis
continuing the publication of the
Union, though sixty thousand dollars
has been offered for it as it stands, by
It syndicate of whom Jno. j. Littleton
was the spokesman.
The new owners OF the American
secured every dollar of the stock Of
the Union and American Publishing
Company. Your correspondents
special OF several weeks ago reporting
the sale at that time was denounced by
the American as maliciously false
yet the sale was at that time consum-
mated, and when it came to transfer
ring the stock there was hitch, caus-
ing back-down by the the Americon
owners. The sale to-day shows that
your correspondent knew what was
going on.
The Telegram will probably be dis
continued and probably the Union.
This will throw out OF employment
about forty compositors, eight writers,
ten men in business offices, and
twenty boys who carry routes. The
Union force in the main will get out
the new paper, very few of the Ameri-
can men being employed.
There were many surprised persons
when the matter became street talk to-
day, Mr.. Colyar was very generally
congratulated. Col. D. B. Cooper has
made about 100000 trading in stocks,
reality, &C., and it is understood will
organize a company to build a cotton
mill.
The only reference to the tale, will
appear in the locals tomorrow as fol-
lows:
THE SALE OF THE AMERICAN,
The sale of the american yesterday
created something OF a sensation
There was good deal OF speculation
about who the purchasers were, 1t was
generally supposed that it meant 6
consolidation with the Uaian. 1t wa,
known that Mr.. Nat Baxter conducted
the trade on the part OF the purchas
ers and the price paid was $165 900
1t is understood the purchasers vii
take possession to-day.
The American tomorrow will sa,
editorially with this issue the con
troll and management of the America,
passes into the hands OF Messers. G. NJ
Fogg and Thos w. Wrene and thei
associates. they having purchased ;
controlling interes in its stock. 1t il
understood that in the new organiza
ton Mr.. G. NJ. Fogg will be presiden
OF the bord Of directors and Mr.. T. NJ
Wrene vice president and genera
manager The business and persona
character of these gentlemen guaran
tees the business feature e{-the organ
ization We are not advised as to tn
line OF policy to be pursued by the ney
management, beyond the assurance 0
its democracy, but believe that fai
conversation will characterize its fu
ture. Iti is not without regret that W
part with those who have steadily sus
tanned in the effort to promote the pull
lie veal as we have seen it. We hav
labored with an eye single to the haT
mess Of the great mass OF the growt
and prosperity of the paper under on
administration, the evidence of th
esteem in which the public has held i
1t has never in its history done la
ger volume of business that at the pre-
cnt. Every shareholder has seen du
ing the period ofour control, an appr
citation of more than 80 per cent i
the value Of his holdings. The reti
ing editor gratefully acknowledges IL
uniform kindness, courtesy and syn
pathy of the entire force Of the Ame,
can. To Mr., E. W. Carmack, who hi
done the great volume Of the edito
ial writing, does he acknowledge spe
ial obligations. To Mr.. James \
Mead and Mr.. W. T. Curr
who have so generously and confiden
; ly sustained (pecuniary and morally
the debt can never be cancelled"
United States Judge Robert
! Hughes, of Virginia, will deliver
L addres son Chief Justice John Marhsi